Pennsylvania Set To “Trump” Atlantic City in Casino Revenue

Pennsylvania’s surging gaming industry will probably overtake Atlantic City next year as the nation’s second-largest casino market, Wall Street analysts predicted Tuesday.
Pennsylvania has been growing by double-digit margins at the same time that Atlantic City’s gaming revenue has plunged 30 percent since peaking at $5.2 billion in 2006. Pennsylvania’s 10 casinos, which are spread across the state, took in about $2.5 billion in revenue in 2010, compared to $3.6 billion for the 11 gaming halls in Atlantic City.
As Atlantic City continues to decline, it seems inevitable that Pennsylvania will become the next $3 billion market and should surpass New Jersey for the nation’s No. 2 spot in gaming revenue behind Nevada, analysts told an industry conference.
“Pennsylvania gaming, sometime next year, will most likely be bigger than Atlantic City,” Andrew Zarnett, managing director of Deutsche Bank, said during a panel discussion at the Pennsylvania Gaming Congress.
Zarnett and other Wall Street observers believe Atlantic City will continue to struggle as competition intensifies in the Mid-Atlantic gaming market, including the (more…)



















